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What will happen when a loan on a motorcycle has been defaulted and the finance company will not reprocess it?


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Wiki User
2005-02-09 12:01:40
2005-02-09 12:01:40

If guess you mean "refinance" when you say "reprocess", the answer is repossession. Loans in DEFAULT are subject to repossession of the collateral and payment of the balance owed by voluntary or legal means.

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If you owe a finance company for it, they may reposess the motorcycle.

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My company doe's home improvements.Need a finance company to finance

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If you have defaulted on the loan, you must sell the vehicle, pay off the loan you have, receive a lien release on title from the loan company and sign it ovet to the buyer. This is bad situation as most people will not pay for a vehicle with out receiving the title at the time of purchase.

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Yes, if the vehicle is repossessed and there is a deficit between the sale and the loan balance, (including fees and penalties)and the borrower cannot pay what is owed.

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Yes. But some shop doesn't sell their motorcycle to those buyers who don't have license yet.


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